Import in itself is a very wide concept and a lot of preparations are required by an importer before starting an import business.
- Establish an organization
- Obtaining Licence from LSGB
- Open Bank Account
- Obtaining Importer-Exporter Code (IEC) Number
- Obtaining Goods and Service Tax Identification Number (GSTIN)
- Selection of Goods or/and Service
- Selection of Markets
- Mode of transportation
- Pricing/costing/INCOTERMS
- Processing a Purchase order
- Letter of Credit (LC)
- Pre-Import
- Import clearance
- Post-clearance
- Proof of Import for Foreign remittance
- Import Obligation